NASDAQ-listed Weibo Corporation has agreed to invest US$142 million in a company that combines two leading Chinese taxi-hailing app makers, Didi Dache and Kuaidi Dache, according to a securities filing. The investment is part of the merged company Didi Kuaidi's latest round of equity financing. Weibo is to invest through its Cayman Islands holding company, […]

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Beijing-based O2O (online-to-offline) automobile maintenance service provider eBaoyang has received US$20 million series B financing led by Shenzhen-listed online gaming firm Beijing Kunlun Technology Co., Ltd., according to Chinese media reports. Beijing Kunlun invested US$11 million, while existing investor Source Code Capital also participated. Founded in January 2014, eBaoyang launched its services in May 2014. […]

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Connecticut-based online travel booking website Priceline Group Inc. has agreed to invest an additional US$250 million in Chinese travel service group Ctrip.com International Ltd., according to a joint announcement. The investment will be made via a convertible bond. In addition, NASDAQ-listed Ctrip has granted permission to Priceline to acquire Ctrip's American Depositary Shares (ADS) in […]

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The Immigration Department and Police arrested seven Mainlanders, aged 18 to 45, in a crackdown on illegal employment in Sheung Shui yesterday.

The three men and four women were arrested for breaching their conditions of stay by being involved in parallel goods trading at Ka Fu Close and San Wan Road. 

Officers seized milk powder, food and vehicle components. 

A total of 2,289 Mainlanders and 14 Hong Kong residents have been arrested for parallel goods trading since 2012. Of these, 216 Mainlanders have been prosecuted, and 206 of them have been jailed.